1. What is io.net?
io.net is an innovative cloud computing project that integrates the current hot technology fields - artificial intelligence (AI), decentralized finance (DeFi) and Solana blockchain. It combines 1 million GPUs together to form the world's largest GPU cluster and DePIN.io.net aggregates GPUs from underutilized resources (such as independent data centers, crypto miners, and crypto projects such as Filecoin and Render) to solve this problem. These resources are combined in the Decentralized Physical Infrastructure Network (DePIN), enabling engineers to obtain a large amount of computing power in an accessible, customizable, cost-effective and easy-to-implement system.
Its ecosystem includes a combination of software and hardware, which greatly increases the high degree of dependence on the project. It allows machine learning engineers to access distributed cloud clusters at a much lower cost than centralized services. At the same time, the solution proposed by io.net to market problems is also one of the most valuable solutions for research at present.
2. Advantages of io.net:
IO.Net not only provides customers with 10%-20% off the price of centralized cloud service providers and instant online services without permission, but also provides additional startup incentives for computing power providers through the upcoming IO tokens, jointly helping to achieve the goal of connecting 1 million GPUs. Compared with other DePIN computing projects, IO.Net focuses on GPU computing power, and the scale of its GPU network is already more than 100 times ahead of similar projects. In addition, IO.Net is the first in the blockchain industry to integrate the most advanced ML technology stack (such as Ray clusters, Kubernetes clusters, and giant clusters) into the GPU DePIN project and put it into large-scale practice, which makes it not only in the number of GPUs, but also in the ability to apply technology and model training. In a leading position.
3. Economics of IO Tokens
1. Constant supply:
The maximum supply of IO tokens is 800 million. This supply is set to ensure the stability of the token value and prevent inflation.
2. Distribution and Incentives:
Initially, 300 million IO tokens will be issued. The remaining 500 million tokens will be issued as rewards to suppliers and their shareholders, a process expected to last 20 years. Rewards are released hourly and follow a decreasing model (starting at 8% in the first year, decreasing by 1.02% per month, or about 12% per year) until the total issuance cap of 800 million tokens is reached.
3. Destruction mechanism:
IO uses a programmatic token destruction system, which uses io.net to purchase and destroy IO tokens from the revenue generated by the IOG network. The destruction mechanism adjusts the amount of destruction based on the price of IO to create deflationary pressure on the token.
4. User Fees:
io.net charges users and suppliers a variety of fees, including reservation fees and payment fees when booking computing power. These fees are set to maintain the financial health of the network and support the market circulation of IO.
5. Payment of Fees:
For payments made in USDC, a 2% fee is charged; for payments made in IO, no fee is charged.
6. Supplier Fees:
Similar to users, suppliers also need to pay corresponding fees when they receive payment, including booking fees and payment fees.
4. Ecosystem
GPU renters (also known as users), such as machine learning engineers who want to purchase GPU computing power on the IOG network. These engineers can use IO to deploy GPU clusters, cloud gaming instances, and build Unreal Engine 5 (and similar) pixel streaming applications. Users also include individual consumers who want to do serverless model inference on BC 8.ai and the hundreds of applications and models that io.net will host in the future. GPU owners (also known as suppliers), such as independent data centers, crypto mining farms, and professional miners, want to provide underutilized GPU computing power on the IOG network and profit from it. IO coin holders (also known as the community) participate in providing cryptoeconomic security and incentives to coordinate mutual benefits and penalties between parties to promote the development and adoption of the network.
① Specific IO allocation
Community: 50% of the total allocation, this portion of tokens is mainly used to reward community members and incentivize platform participation and growth.
R&D Ecosystem: 16%, used to support the platform's R&D activities and ecosystem construction, including partners and third-party developers.
Initial Core Contributors: 11.3%, rewarding team members who made key contributions in the early stages of the platform.
Early Backers: Seed: 12.5%. This part of tokens is allocated to early seed investors to reward them for their trust and financial support in the early stage of the project.
Early Backers: Series A: 10.2%, allocated to Series A investors in return for their investment of funds and resources in the early stages of project development.
②Halving mechanism
2024-2025: 6,000,000 IO tokens will be released each year during these two years.
2026-2027: Starting in 2026, the release amount is halved to 3,000,000 IO tokens per year. 2028-2029: The release amount continues to halve to 1,500,000 IO tokens per year.
V. Financing
According to ROOTDATA data, io.net has completed its second round of financing, with the latest valuation of US$1 billion and a total financing amount of up to US$40 million, which are:
On May 1, 2023, it announced the completion of a $10 million seed round of financing;
On March 5, 2024, it announced the completion of a US$30 million Series A financing round, led by Hack VC. Other investors included Multicoin Capital, Delphi Digital, Foresight Ventures, Animoca Brands, Continue Capital, Solana Ventures, Aptos, LongHash Ventures, Lao Xu Ventures, Amber Group, SevenX Ventures and ArkStream Capital.
6. How to mine for free on Binance
Step 1. On the home page, click More and select Launchpad
Step 2: Click on pledge and select BNB/FDUSD to pledge.
Step 3: Click Deposit and enter the amount.
7. Token Price Prediction
The current over-the-counter price of aevo.xyz is $4.57 (as of 21:30 on June 8, 2024)
Opening price estimate: The total amount is constant at 800 million, with an initial circulation of 95 million. The initial supply of 500 million will be released at the end of the 13th month and will be released gradually over a period of 3-5 years. Only 20 million will be mined on Binance! The other 300 million will be released gradually over 20 years!
The sector belongs to the hot AI sector, so the valuation will be slightly higher! The initial circulation is small! It is inevitable that the initial circulation market value will be overestimated!
According to the current over-the-counter quotation of $4.57, the initial circulation valuation has reached 410 million US dollars!
Recently, the over-the-counter quotes for new coins are generally higher!
To be conservative, the initial circulation valuation is 200-350 million US dollars, then the corresponding price is: 2.1-3.7 dollars
A little FOMO, the initial circulation valuation is 400-600 million US dollars, then the corresponding price is: 4.2-6.66 dollars
Extremely greedy, initial circulation valuation of 800-100 million US dollars, then the corresponding price: 8.4-10.5 dollars
From this perspective, if the market rebounds violently this weekend and reverses the downward trend, the price is expected to hit the tip of $10!
Currently, this probability is low, and the highest opening price may reach 4.2-6.66 or 7, which is very likely. Therefore, if the opening price reaches 5-6 dollars or above, you can consider reducing your position or exiting the market with 80% of the mining income!
Worst case, no doubt, 80% of the opening price can reach more than $4, after all, the over-the-counter price is now $4.57. Is it the peak at the opening? Or is it born in the falling market like BB, and the rise against the trend drives the overall market to recover? It should be noted that this coin has a certain scale of profiteers!
Remember to start reducing your position when the price is above 6 dollars. For prices below 3 dollars or 2.5 dollars, as a new currency, you can give it a try. As long as you are given the opportunity, do it boldly!
Specific information can be found at:
1. Project research report:
https://www.binance.com/en/research/projects/ionet
2. Official website:
https://io.net/
3. White Paper:
https://docs.io.net/
4. Official Twitter:
https://x.com/ionet